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Labor costs increased by 5.7% in the second quarter, according to INE

Labor costs increased by 5.7% in the second quarter, according to INE

The labor cost index rose by 5.7% in the second quarter compared to the same period in 2021, accelerating the growth rate compared to the previous three months (1.4%), the National Statistical Institute (Instituto Nacional de Estatística) said this Friday. (National Institute of Statistics)). Statistical Institute).

Between April and June, payroll costs (per hour actually worked) increased by 5.6% (0.7% in the previous quarter), and other labor costs (also per hour actually worked) increased by 6.3% (4.2% in the previous quarter).

The sharpest increase in payroll costs in the second quarter of 2022 was registered in industry (7.4%) and construction (7.1%), while services and public administration had “smaller growth, at 5.1% and 5 .0%, respectively”.

In the previous quarter, with the exception of public administration, wage costs increased less in all economic activities.

The Institute, in a publication published today, adds that non-wage spending has shown larger fluctuations than wage costs, with the exception of construction, where the fluctuations have been similar.

As in the previous quarter, the sharper increase in other expenses came as a result of the resumption of employer contributions by companies that had been on a simplified “reduction” or emergency progressive recovery support regime in the same quarter last year.

Average costs per employee registered a sharper increase than in the previous quarter across all economic activities. The largest growth was registered in the construction and services sectors (both 5.1%), while the least changes occurred in public administration (2.4%).

INE also highlights that since the first quarter of 2021, growth in public administration has been lower than in other activities.

With the exception of the service sector, the number of hours actually worked per employee decreased in all types of economic activity, especially in industries (-2.6%) and public administration (-2.5%).

In the same quarter of the previous year, INE recorded a significant increase in the number of hours actually worked per worker in all activities except construction, which was mainly due to the complete or partial closure of companies in accordance with the law. or due to a reduction in the normal business period due to reduced billing.

The next labor cost index for the third quarter of the year will be released on 14 November.

Author: Lusa
Source: CM Jornal

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